24th Oct 2005 15:32
Tesco PLC24 October 2005 OFT CLEARS TESCO ACQUISITION OF 21 FORMER BP/SAFEWAY PETROL STATIONS The Office of Fair Trading today cleared Tesco's acquisition of 21 former BP/Safeway petrol stations from Wm Morrison. Tesco will now convert the stores to its popular Express convenience formatbringing lower prices as well as improved choice, range and service to morelocal neighbourhoods across the country. The deal was originally announced on 31st August 2005 and involved an offer for30 petrol stations. As stated at the time, BP retained pre-emption rights on 12sites and has since exercised those rights on nine of them. ENDS Contacts: Press: Julie McGuckian 01992 644 645Investors: Chris Griffith 01992 644 800 Notes for Editors: • The UK convenience market is valued at around £24 billion. It is a fragmented market with over 50,000 stores, mostly independently owned. • Following the acquisition Tesco's share of the convenience market will be around 6%. • Tesco now has around 600 Express stores in the UK. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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